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Topic 5 - Vision and Mission Statement* (Vision and Mission Statement…
Topic 5 - Vision and
Mission Statement*
Vision and Mission
Statement
Vision
Statement should be short
Statement should be in one sentence
Managers should have input into developing the statement
Mission
A declaration of an organisation's "reason for being"
Answers the pivotal question "What is your business"
Essential thing to establish objectives and formulating strategies
Reveal what an organisation wants to be and whom it wants to serve
also known as;
Creed statement
A statement of purpose
A statement of beliefs
Developing
Select several activities about these statement; ask managers to read them as background information
Ask managers to prepare Vision and Mission statement for the organisation
Top managers should merge these statements into a single document and distribute the draft statements to all managers
A requirement for modifications, additions and deletions is needed next.
Meeting is needed to revise the documents
Importance
Ensure all employees / managers understand the firm's purpose or reason for being
Provide key internal and external factors utilised to formulate feasible strategies
Provide a basis for allocation of resources
Provide a basis for organising work, departments, activities and segments around a common purpose
Benefits
Achieve clarity of purpose among all managers and employees
Provide direction
Provide a focal point for all stakeholders of the firm
Resolve divergent views among managers
Promote a sense of shared expectations among all managers and employees
Project a sense of worth and intent to all stakeholder
Achieve higher organisation performance
Achieve synergy among all managers and employees
Mission
Statement
Characteristics
Broad in scope, and does not include monetary amount, currency, percentage, ratios or objectives
Fewer than 150 words in length
Inspiring
Identify the utility of a firm's products
Reveal the firm is socially environmentally responsible
Reconciliatory
Enduring
Component
Customers
Products or services
Markets
Technology
Survival, growth and profitability
Philosophy
Self - concept
Public image
Employees
According to
Vern McGinnis
A mission statement should
Define what an organisation is, and what it aspires to be
Be limited enough to exclude some ventures and broad enough to allow for creative to grow
Distinguish a given organisations from all others
Serve as a framework for evaluating both current and prospective activities
Be stated sufficiently clear to be widely understood throughout the organisation
Considerations
Do not offer me clothes, offer me attractive looks
Do not offer me CD, offer me leisure and the sound of music